US stocks drop as markets around the world are pummeled by Trump's intensifying trade war
Business Insider
Published Jul 11, 2018 09:38AM ET
Updated Jul 11, 2018 10:16AM ET
- Global markets are in turmoil as the Trump administration intensifies its trade war once again.
- The US administration late on Tuesday released a huge list of new tariffs on $200 billion worth of goods from China.
- Stocks in China and the rest of Asia tumbled overnight, spreading to Europe after markets opened.
- US stocks have followed suit, losing more than 0.5% in the first few minutes of trading.
- said in a statement that it could not accept the additional tariffs proposed by the US, adding that it was "shocked" by the decision.
It also said that China would have to respond to the US actions.
Although the trade war obviously remains front and centre in the minds of investors, another factor at play is the nagging worry that Trump may want to pull the USA out of NATO (the North Atlantic Treaty Organisation) — a move that would represent a fundamental upheaval in the international order, and have a huge impact on markets.
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Written By: Business Insider
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